How Much Life Insurance Can I Get Without a Medical Exam?
Applying with a medical exam is how most people buy insurance. However, there are more and more companies offering No Medical Exam options. Unfortunately, these No Exam policies have a much lower maximum death benefit.
A No Exam policy typically maxes out at about $400,000 depending on the insurance company.
There are a few companies that offer higher amounts – up to $1 million dollars in fact.
You will need to undergo a medical exam for a policy over $400,000. The medical exam required for a 2 million dollar policy is very similar to an annual physical with your doctor.
The medical exam is scheduled at a time and place of your choice and is paid for by the insurance company.
The exam takes less than a half hour and the examiner will gather the following:
- Height and Weight
- Blood Pressure
- Urine Sample
- Blood Sample
- It is possible that ECG or EKG is part of the exam
The results of this exam as well as other underwriting details are analyzed by the life insurance underwriter.
The underwriter may order physician notes from your doctor(s), check what medications you use or have used from a medication database, MVR, and MIB. All of this information will be used to determine your risk and provide a health class rating. Your health class rating will determine your rate with that company.